Let's do the numbers:
Alastair Majury, MA Economics, University of Glasgow
"In red we marked how the original 1957 price of $150 would have changed had it followed monetary inflation only. The math is simple behind this one. If we adjust the original $150 price from 1957 with inflation to 2014 US Dollars, we end up with a price of $1,265 while the watch actually costs $7,500 today." https://www.quora.com/How-much-did-a-Rolex-cost-in-the-1970s